We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Mixed
More View more
Real Time News
  • The politics of the US and UK may be starkly divided but their grip on the vast, $6.6 trillion global foreign exchange trade seems as tight as ever. Get your market update from @DavidCottleFX here:https://t.co/xTKHOvrIqg https://t.co/z7ogzy00dy
  • What are the Market cycles? How are #currencies impacted in these cycles? How can these cycles impact #forextrading patterns? Find out here: https://t.co/ckr2fUOWqW https://t.co/g7iT8bpi7f
  • What are a few of the common trading mistakes made by traders? Find out from @WVenketas here: https://t.co/d3OFc4yGao #tradingstyle https://t.co/wQ1MAkOb0n
  • The UK population voted the Conservative government back in with a strong majority, giving PM Johnson the backing to push Brexit through. And Sterling (GBP) likes it. Get you $GBPUSD market update from @nickcawley1 here: https://t.co/tjCHWDxoWm https://t.co/Z7Vaadxy5r
  • #Gold prices may fall while the US Dollar gains even as economic policies championed by the Trump administration invite inflation. Get your $gld markets news from @IlyaSpivak here:https://t.co/4lHhHsby56 https://t.co/zF4EyLIRWM
  • Lessons from Bretton Woods are forgotten, the US-China #tradewar represents a true existential threat to the post-World War II international trade order, and in turn, the globalized economy that has grown out of the ashes of history. More from @CVecchioFX :https://t.co/paaBxX6Xt0 https://t.co/tcjkQnaBWl
  • What are the truths and myths of #forex trading? Find out from @DailyFX analysts here: https://t.co/uF75VPzstr #FOMOintrading https://t.co/bDXG2dV3wG
  • The US Dollar technical outlook against the Euro, British Pound, Australian Dollar and New Zealand Dollar are discussed. Large wicks left signs of indecision, will reversals follow? $EURUSD $GBPUSD $AUDUSD $NZDUSD - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/12/15/US-Dollar-Technical-Outlook-EURUSD-GBPUSD-AUDUSD-NZDUSD.html?CHID=9&QPID=917702 https://t.co/dpuIppxo3F
  • What are some trading mistakes @nickcawley1 made during his career and what did he learn from them? Find out: https://t.co/y3cckNW22W https://t.co/vUQyVl6b0e
  • Growth linked currencies have gained as investors hope for progress on the trade front as well as stimulus from the Fed. The global economy however remains depressed and seems likely to remain so. Get your market update from @DavidCottleFX here: https://t.co/jt1HH9AHLM https://t.co/Yz65AMJYlm
Euro May Be Asymetrically Sensitive if PMI Data Tops Expectations

Euro May Be Asymetrically Sensitive if PMI Data Tops Expectations

2014-09-23 04:52:00
Ilya Spivak, Sr. Currency Strategist
Share:

Talking Points:

  • Euro May Prove Most Responsive to Better-Than-Expected Sep. PMI Results
  • Aussie Dollar Outperformed Following Upbeat Chinese PMI Print Overnight
  • NZ Dollar Sold on Fading RBNZ Rate Hike Bets, Dairy Exports Expectations

September’s preliminary set of Eurozone PMI figures headlines the economic calendar in European trading hours. The regional composite index is expected to show that the pace of manufacturing- and service-sector growth remained unchanged this time around after sliding to an eight-month low in August. A print in line or worse than expected seems unlikely to generate significant Euro volatility.

The ECB has already introduced an aggressive array of stimulus easing measures, meaning further evidence speaking to weakness in the region is unlikely to materially upset the established status quo and spur capital flows. On the other hand, anoteworthy improvement may fuel upside volatility amid an unwinding of formidably built-up speculative short positions.

The Australian Dollar outperformed in overnight trade, rising as much as 0.2 percent on average against its leading counterparts. The move followed better-than-expected Chinese Manufacturing PMI data from HSBC that showed the pace of growth in factory-sector activity unexpectedly accelerated in September. China is Australia’s largest trading partner and traders often interpret signs of improvement there as positive for the latter country’s business cycle, which in turn underpins supportive RBA policy bets.

The New Zealand Dollar proved weakest on the session, falling as much as 0.2 percent against the majors. The move tracked a drop in New Zealand’s benchmark 10-year bond yield, pointing to eroding RBNZ rate hike expectations as the catalyst behind the selloff. Downward pressure may have been compounded by a report from Rabobank that showed 47 percent of polled dairy farmers expected business performance to deteriorate in the coming 12 months. Dairy is New Zealand’s largest export sector and a drop-off there bodes ill for the economy as a whole, which may in turn limit the scope of future monetary tightening.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

23:30

AUD

ANZ Roy Morgan Weekly Consumer Conf

112.9

-

111.3

1:45

CNY

HSBC PMI Manufacturing (SEP P)

50.5

50.0

50.2

European Session

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

6:45

EUR

France GDP (QoQ) (2Q F)

0.0%

0.0%

Medium

6:45

EUR

French GDP (YoY) (2Q F)

0.1%

0.1%

Medium

6:45

EUR

French Mfg Confidence Indicator (SEP)

96

96

Low

6:45

EUR

French Business Confidence (SEP)

91

91

Low

6:45

EUR

French Own-Company Prod Outlook (SEP)

-5

-7

Low

6:45

EUR

French Production Outlook Indicator (SEP)

-22

-20

Low

7:00

EUR

Markit France Manufacturing PMI (SEP P)

47.0

46.9

Medium

7:00

EUR

Markit France Services PMI (SEP P)

50.1

50.3

Medium

7:00

EUR

Markit France Composite PMI (SEP P)

49.4

49.5

Medium

7:30

EUR

Markit German PMI Manufacturing (SEP P)

51.2

51.4

High

7:30

EUR

Markit German PMI Services (SEP P)

54.6

54.9

High

7:30

EUR

Markit German PMI Composite (SEP P)

53.5

53.7

High

8:00

EUR

Markit Eurozone PMI Services (SEP P)

53.0

53.1

High

8:00

EUR

Markit Eurozone PMI Manufacturing (SEP P)

50.6

50.7

High

8:00

EUR

Markit Eurozone PMI Composite (SEP P)

52.5

52.5

High

8:30

GBP

BBA Loans for House Purchase (AUG)

42913

42792

Low

8:30

GBP

Public Finances (PSNCR) (Pounds) (AUG)

6.0B

-9.7B

Low

8:30

GBP

PSNB (£) (AUG)

10.5B

-1.1B

Low

8:30

GBP

PSNB - Central Gov't NCR (£) (AUG)

-

-2.4B

Low

8:30

GBP

PSNB ex Interventions (£) (AUG)

11.8B

0.2B

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.2740

1.2792

1.2821

1.2844

1.2873

1.2896

1.2948

GBPUSD

1.6174

1.6256

1.6309

1.6338

1.6391

1.6420

1.6502

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.